An oligopoly is a market that is dominated by

Question

Quizplus · Accepted Answer

An oligopoly is a market structure where a few dominant firms control a significant share of the market. This means that there are only a few sellers in the market, which limits competition and can lead to higher prices and reduced consumer choice. Therefore, option C, which states that an oligopoly is dominated by a few sellers, is the correct answer. Option A, which states that an oligopoly is dominated by one seller, refers to a monopoly, while option B, which states that there are a large number of sellers, describes a perfectly competitive market.

An Oligopoly Is a Market That Is Dominated by